Notification of Transactions of Directors/Persons Discharging Managerial Responsibility
Posted today by the London Stock Exchange:https://www.londonstockexchange.com/exc ... 50435.html
Interesting, to note the base salaries from the RMG Annual Report:The salaries for the Executive Directors for 2018-19 are:
• New Group CEO (Rico Back) £640,000*;
• CFO (Stuart Simpson) £450,000;
• CEO of Post and Parcels, Royal Mail UK (Sue Whalley) £450,000.
If you multiply the number of shares awarded under the "Long-Term Incentive Plan 2018 (LTIP 2018) Grant"
times the current RMG share price approximately £4.57:
Rico Back: 140,052 x 4.57= £640,037.64 (Rounded £640,000)
Stewart Simpson: 98,474 x 4.57=£450,026.18 (Rounded £450,000)
Sue Whalley: 98,474 x 4.57=£450,026.18 (Rounded £450,000)
So essentially, it seems that the 2018 LTIP grant value equals the executive's base salary.
We can likely logically conclude then that the currently unpublished
base salaries for some of the other PDMR executives listed are:Shane O'Riordain, Director of Communications: 76,591 x 4.57= £350,020.87 (Rounded - £350,000)
Jon Millidge, Chief Risk and Governance Officer: 71,667 x 4.57= £327,518.19 (Rounded - £327,500)
Sally Ashford, Chief HR Officer: 65,649 x 4.57= £300,015.93 (Rounded - £300,000)
Is it just me, or does anyone else think that for a non-C-level, and a quite junior role like the Director of Communications
, to be earning a £350,000 base salary is just a little bit bonkers?